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Cable & Wireless Worldwide has launched a surprise bid for the IT services company 2e2, renewing concerns about its ability to maintain its dividend pledge because the potential cost could exceed £400 million.

CWW promised last month to maintain its annual dividend at 4½p a share, but analysts feared that it would not generate sufficient cash to cover the payment.

The telecoms company also said recently that it would seek more cloud computing contracts to shift its revenues towards data and away from voice work. The acquisition of 2e2, a privately owned systems integrator based in Newbury, Berkshire, would reflect